Today's insights, tomorrow's opportunities: Understanding emerging markets in Europe

With the opening of formerly communist economies, combined with maturing markets in developed countries, global companies are increasingly targeting emerging markets. In central, eastern Europe and beyond, markets are emerging in a region with a total population of over 400 million. But despite an educated and low-cost labor force, investors often confront heavy government bureaucracy, corruption, and raw material shortages. The limited importance placed on competitive intelligence by local businesses is also a key problem. Although the need for accurate and timely information is growing, a lack of awareness of the unknown remains a major handicap for many local business managers. Global companies with an established need for competitive intelligence often face a difficult task in gaining reliable data for decision making. Compared to competitive intelligence in developed markets, emerging markets require research briefs and methodologies with a wider scope to achieve similar objectives, with relatively larger investments in time and resources. International agencies, banks, and accounting firms can help. Moreover, local authorities, trade chambers, and other local sources can provide useful inputs and insights on their sectors. © 1997 John Wiley & Sons, Inc.